Europe News

Nearly half of household expenditure across the European Union was devoted to basic necessities in January 2026, according to official data from Eurostat. The statistical office of the European Union reported that 46.0 per cent of total household consumer spending was allocated to three essential areas: food and non-alcoholic beverages, housing, water and energy, and transport. These three categories have also experienced significant price increases in at least one recent yea

The Dutch central bank has moved billions of dollars' worth of gold from North America to London as part of an effort to strengthen its preparedness for a potential crisis, citing what it described as "increasing geopolitical unrest". De Nederlandsche Bank (DNB) confirmed on Wednesday that 86 tonnes of gold had been removed from storage in the United States and Canada during a complicated operation that took several months. The gold has now been placed with the Bank of Englan

European investment firms with assets exceeding €30 billion could face a significantly different regulatory regime under new proposals being developed by the European Banking Authority, as regulators seek to clarify when large investment firms must transition into the banking framework. The EBA has launched a consultation covering three draft regulatory technical standards that would establish clearer rules for calculating an investment firm's total assets, reporting those fi

The euro is set for its first major visual transformation, as the European Central Bank (ECB) moves ahead with plans for a new generation of banknotes designed to look more familiar, strengthen security and create a closer connection with European citizens. The proposals, unveiled by the ECB in July, represent the first substantial visual break from the banknotes that Europeans have carried since the introduction of the single currency. The new designs replace the current abs

Europe’s prolonged spell of extreme summer heat is expected to inflict an economic cost of around €180 billion in 2026, equivalent to roughly 1% of the European Union’s GDP, according to research published by Triodos Bank. The estimated loss is almost as large as the 1.1% growth that the EU had been expected to achieve this year, raising the prospect that the bloc could end the year close to stagnation. The analysis attributes the losses to a combination of extreme temperatur

Eurozone business activity accelerated to its strongest level in eight months during July, supported by a recovery in the services sector alongside continued improvement in manufacturing. However, businesses remained cautious as uncertainty surrounding the ongoing conflict in the Middle East continued to weigh on the economic outlook, according to the latest survey. The S&P Global Eurozone Composite Purchasing Managers' Index (PMI), which measures combined activity across the

Banks across the euro area adopted more cautious lending practices during 2025 as heightened trade tensions, particularly those affecting exports to the United States, increased risks for businesses, according to the European Central Bank (ECB). The findings were published in an ECB blog post by economists Anastasia Allayioti, Alessandro Ferrari, Petra Köhler-Ulbrich and Matías Lamas Rodríguez, together with research analyst Wouter Wakker. Their analysis combined corporate lo

European governments are confronting an unprecedented fiscal challenge as mounting expenditure associated with ageing populations, the transition to cleaner energy and increased defence commitments threatens to place significant pressure on public finances, according to a newly released paper by the International Monetary Fund (IMF). The IMF's European Department warned that average public spending across the region is projected to rise by nearly 5 per cent of gross domestic